Hospitals: Billions in Medicaid money on table

INDIANAPOLIS (AP) - The Indiana Hospitals Association says Indiana could miss out on roughly $3 billion a year in economic growth if it doesn't expand Medicaid under the federal health care law.

The study is being pushed the same week the General Assembly will consider how and if it will pay to add roughly 400,000 residents to Medicaid under the law.

The hospital group's study released Monday determined that expanding Medicaid would cost $503 million over seven years and generate between $2.4 billion and $3.4 billion in growth as federal aid bolsters the state's health care industry.

That figure contradicts one provided by an actuary hired by former Gov. Mitch Daniels that showed Medicaid costing the state billions more over the same timeframe if it expands the program.